The Sports Betting Regulatory Authority has reportedly sent a warning to Sorare

Being in the sights of the National Gaming Authority (ANJ)? According to information from our colleagues at BFM, the French unicorn would have received a warning. What could this say for the future of the company?

Sorare accused of offering sports betting

The warning would be a first step for the National Gaming Authority. So he officially asks Sorare to do it prove that its platform does not offer disguised sports betting. We remind you that Sorare operates by offering cards – in the form of NFTs – that allow their owners to participate in virtual tournaments.

Cards increase and decrease in value based on the player’s performance in real life. This link with “real” players is the point that has raised questions from the French authority, which sees it as a deviant betting system. Users must in fact pay to access the game and hope to earn money, according to Frédéric Guerchoun, interviewed by BFM:

For there to be gambling, there must be an offer made to the public, a gain in kind or cash, as well as a financial sacrifice. In our eyes, the economic sacrifice intended by jurisprudence is an expense. But in the case of Sorare, it is essential to purchase the cards to participate. “

Sorare obviously denies this interpretation. The company claims that the user “bets” they are in no way related to actual matches, and therefore it makes no sense to consider them as sports bets. Furthermore, unlike a bet, the user keeps the assets he has committed (the NFTs) and can put them back into play:

When a Sorare card is played in our fantasy game, it never got lost. This card can be played 1 time or 500 times, in the first and tenth seasons“.

👉 To go further – Sorare test and opinion – When football meets blockchain and NFT

Play and collect cards in NFT format

Thousands of € of cryptocurrencies up for grabs

What would change for Sorare?

However, it could be a nice thorn in Sorare’s side. The French unicorn, which had a dizzying rise last year, has recently signed some big names in football, like Kylian Mbappé, or more recently Zinédine Zidane. Which obviously attracts the attention of the regulator.

If the ANJ believes the platform does indeed offer sports betting, the consequences could be severe for Sorare. The company would face at a much lower tax rate… And should it strengthen its registration process, sports betting is particularly regulated in France. Furthermore, this would effectively put him in the same league as the main competitors, who, if they don’t offer the same services, have particularly sharp marketing teams.

For now, Sorare has not officially communicated on the matter. However, we will follow the rest of this case, which could upset a particularly dynamic cryptocurrency industry.

👉 Also in the news – The Blockchain game Sorare collaborates with the Lega Serie A, the top Italian football division

Source: BFM

published by editions Larousse

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